World News

U.S. coronavirus relief bill to add $1.8 trillion to deficit

WASHINGTON (Reuters) – The coronavirus response bill passed by the U.S. Congress last month will increase the federal budget deficit by about $1.8 trillion over the next decade, the Congressional Budget Office (CBO) estimated Thursday.

Although the coronavirus relief bill provided over $2 trillion in financial aid, its projected cost is less than that because some of the assistance is in form of loan guarantees, the CBO said in a statement.

(Reporting by Susan Cornwell; Editing by Sandra Maler)